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Ivor borrowed $420,000 from Lear Bank. At Lear's request, Ivor entered into an agreement with Ash, Kane, and Queen for them to act as co-sureties on the loan. The agreement between Ivor and the co-sureties provided that the maximum liability of each co-surety was: Ash, $84,000; Kane, $126,000; and Queen, $210,000. After making several payments, Ivor defaulted on the loan. The balance was $280,000. If Queen pays $210,000 and Ivor subsequently pays $70,000, what amounts may Queen recover from Ash and Kane?

User Mcky
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1 Answer

7 votes

Answer:

what amounts may Queen recover from Ash and Kane?

Ash 56000

Kane 84000

Step-by-step explanation:

Ivor Borrowed 420000

Ash 84000 20,00%

Kane 126000 30,00%

Queen 210000 50,00%

420000

Ash 56000 40,00%

Kane 84000 60,00%

Queen 210000

Ivor 70000

280000

140000

User Jkt
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8.3k points
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